In credit terms of 3/15, n/45, the "3" represents_____.

a.

Full amount of the invoice

b.

Percent of the cash discount

c.

Number of days when the entire amount is due

d.

Number of days in the discount period

Clear my choice

The entry to record ( perpetual inventory)the receipt of payment within the discount period on a sale of $10,000 with terms of 3/15, n/60 will include a

a.

Credit to Sales Discounts for OMR 300.

b.

Debit to Cash for OMR 9,700.

c.

Credit to Accounts Receivable for OMR 10,700

d.

Credit to Sales Revenue OMR 10,000

Question 6 Not yet answered Marked out of 0.50 Flag question At the beginning of the year, Popular Co. had an inventory of OMR 200,000. During the year, the company purchased goods costing OMR 900,000. Popular Co reported ending inventory of OMR 300,000 at the end of the year. Their cost of goods sold is a. OMR 400,000 Ob. OMR 1,400,000 C. OMR 800,000 O d. OMR 1,000,000 d Question 8 Not yet answered Marked out of 0.50 Flag question A retailer pays on credit for OMR 650 worth of inventory, terms 3/10, n/40. If the merchandiser pays within the discount period, how much will the retailer remit in cash to the manufacturer? a. OMR 650 b. OMR 195 C. OMR 19.50 d. OMR 630.50